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Anka Property Group has unveiled its latest $200 million residential development, Union Balmain, in the Sydney suburb of Rozelle. 
Anka has joined forces with architects Turner Studio and interior designers SJB with plans to deliver a five-star, green star development, in the hopes of minimising its carbon footprint.
<a href="https://unionbalmain.com.au/" target="_blank">Located at 120 Terry Street</a>, the 202 apartments will comprise one-, two- and three-bedroom apartments.
<img src="/images/stories/2013/04/balmain1_0002_UNION_Terry_St_2_RT.jpg.jpg" width="470" height="470" alt="balmain1_0002_UNION_Terry_St_2_RT.jpg">
One-bedroom apartments range in size from 58 square metres to 113 square metres and having a starting price of $625,000.
Two-bedroom apartments range in size from 86 square metres to 147 square metres and start from $860,000.
Three-bedroom apartments range in size from 115 to 249 square metres and range in price from $1,095,000 to $2 million.
The three-building, six-storey complex will feature a residents-only rooftop park with a communal vegetable garden and BBQ areas.
 
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<img src="/images/stories/2013/04/balmain1_0000_UNION_304_Kitchen.jpg.jpg" width="470" height="470" alt="balmain1_0000_UNION_304_Kitchen.jpg">
Collaborating with landscaper Aspect Landscaping, Union <a href="/news">Balmain</a> will also feature a ground level park.
The ground level will also host a mix of retail space and cafes.
The 1.38-hectare site was purchased in 2009 for $13 million.
Construction on the development is due to commence in mid-2013 and has an estimated completion date of early 2015.
 
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Anka unveils $200 million development Union Balmain

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One of the most influential architects in Sydney, Koichi Takada, is transforming the city's apartment scene with his love of nature and culture.
Founded in 2008, <a href="https://koichitakada.com/" target="_blank">Koichi Takada Architects</a> has an array of projects under its belt. A key theme for Takada is to reintroduce nature to cities.
“We continually see the destruction of the natural environment, and more and more we see the potential in architecture to become a platform to rectify this,” Takada says.
Koichi Takada was appointed to design a penthouse in the Victoria Park residential estate Apex, four-kilometres from the Sydney CBD.
Developed by Payce, <a href="https://www.apexliving.com.au/team" target="_blank">Apex</a> offers 153 one-, two- and three bedroom apartments – some of which are two-storeys.
The three-bedroom Takada-designed penthouse set a new price record of $1.3 million for Victoria Park.
The 142-square-metre apartment boasts full-height glass doors and windows, offering the apartment all day sunlight.
The designer kitchen is equipped with Miele appliances and solid stone bench tops and mirrored splashbacks.
Residents of APEX have use of a 400-square metre rooftop garden terrace equipped with an outdoor cinema.
The sale by Martin Property Zetland means all 153 apartments in APEX have been sold.
“The escape to a beautiful waterfront, a park or a garden, and away from the concrete jungle becomes an important retreat in people’s routines,” says Takada.
Koichi Takada blends the traditions of his homeland Japan with today’s flowing forms – an approach he developed in New York, London and Tokyo.
He has won an international property council award and his projects have been featured in magazines such as Vogue living, Bell and Inside.
Takada has also been appointed to design apartment interiors for the new and final apartment development at Victoria Park, Platinum.
Takada will use three schemes, including Pearl – inspired by the Whitsundays – Sahara – inspired by the colours of Morocco and Ebony – inspired by the jet-black remnants of Hawaii’s volcano’s.
“The colours, textures and contrasts take you to an out-of-world place, an escape as enticing and beautiful as a fashion label,” says Takada.
“Silver, bronze and grey mirrored surfaces provide a wow factor worthy of the brand Platinum.”
 
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Platinum will comprise five buildings, ranging from six to 15 storeys.
One of the buildings reflects the colours of the park opposite it, while another is inspired by the sunset.
Another building is inlaid with golden jewels and topped with a penthouse crown.
Located on Hutchison Walk, 90% of the apartments at Platinum have leafy vistas.
Only four apartments out of 322 are still available for purchase.
Takada has also designed two, two-bedroom apartments within the new development <a href="https://www.centralparksydney.com" target="_blank">One Central Park</a> (pictured below) in Sydney’s Broadway. Koichi Takada set about creating a homely feel in the east tower of One Central Park the project at Broadway in Sydney by Frasers Property inpartnership with Sekesui House.
<img src="/images/stories/2013/04/takadaapril3one.jpg" width="470" height="305" alt="takadaapril3one">
Due for completion in 2013, Koichi Takada’s ‘raw organics’ apartments boast a mixture of hammered stone, linen and woven grasses.
Jean Nouvel and PTW Architects have designed the building’s façade with a collection of vertical gardens, reminding us that nature can thrive in the city.
Koichi Takada’s other projects include Canberra Wave Gardens, Sails at Revy Darling Island, St Margarets in <a href="/news">Surry Hills</a> and the Silhouette House at Northern Beaches.
Sky by Crown is another upcoming by Koichi Takada. Its a North Sydney residential highrise set for 2013 marketing.
The Crown Group recently finalised the purchase of the Pacific Highway North Sydney site for $26 million with plans to build a <a href="https://www.realestate.com.au/project-sky+by+crown+-nsw-north+sydney-600001239" target="_blank">19-level apartment tower</a>.
<a href="https://www.realestate.com.au/project-skye+by+crown+-nsw-north+sydney-600001239" target="_blank">The 211-223 Pacific Highway site is set to have 230 apartments</a>.
Work on the tower could start mid 2013 if approvals are granted for the plan which comes with a spectacular infinity edge pool inspired by the vast “floating garden” pool in Singapore’s Marina Bay Sands Resort.
In early 2012 North Sydney Council resolved to forward a planning proposal for the site to the Department of Planning seeking a gateway determination.
The group currently has $2.5 billion worth of projects in the pipeline.
For more on the allure of Australian property to Asian buyers, <a href="http://propertyobserver.com.au/ebooks/free-ebook-australias-allure-for-asian-residential-property-investment" target="_blank">download our free eBook. </a>The eBook is also available for<a href="http://propertyobserver.com.au/ebooks/australias-allure-for-asian-residential-property-investment-free-ebook" target="_blank"> free download in Chinese.</a>
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Influential architect Koichi Takada transforming Sydney apartment scene

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The first group of baby boomers has turned 65 and as many prepare for retirement by downsizing they will to push up demand for apartments, says John McGrath.
He quotes Australian Bureau of Statistics figures showing there were 249,800 people aged 65 on June 30 2012 – an increase of 37,500 compared to 12 months earlier.
 A baby boomer is a person who was worn during the post-World War 2 "baby boom" period between 1946 and 1964.
McGrath, chief executive of McGrath Real Estate Agents, writes in a blog for <a target="_blank" href="https://www.switzer.com.au/the-experts/john-mcgrath-property-expert/first-baby-boomers-turn-65/">Switzer.com.au</a> retirees will generally want to downsize their living arrangements and many will look to buy an apartment.
Apartments are appealing because they’re smaller, they don’t have any gardens to maintain and they’re usually located around shopping, dinner and entertainment precincts, he says.
McGrath says that those downsizing in Sydney are moving to suburbs that are close to the action, such as <a href="/news">Pyrmont</a> in the inner city and <a href="/news">Kirribilli</a> across the water.
Retirees are also likely to seek apartments due to the security factor.
McGrath says they will want a place they can lock up and leave if they want to travel for a while.
Those that don't choose to live close to the city, may consider lifestyle options such as the Blue Mountains and <a href="/news">Bowral</a>, which offer close commuter access.
McGrath says downsizers are also relocating to <a href="/news">Port Macquarie</a>, however apartments are scarce in regional areas so these buyers are looking for character cottages.
McGrath says he expects to see a resurgence in the prestige apartment market once the global economic outlook improves, but until then, many downsizers will be looking at more modest apartments and townhouses for the next phase of their lives.
“Investors should take note of these trends, older Australians are set to become a major force in our property market in the years to come,” McGrath says.
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Retiring baby boomers likely to push up demand for apartments: John McGrath

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The <a href="https://www.realcommercial.com.au/property-retail-vic-malvern-500617179" target="_blank">225-square-metre corner retail building</a> that currently houses the chef's hat awarded Livingroom Restaurant in Malvern is on the market for around $1.5 million. 
Located at 12 to 18 Claremont Avenue, the building originally comprised of four retail shops that were combined to create an expansive space.
The building has an annual return of $76,350, which offers a potential rental yield of 5.09%.
Boasting two extensive street frontages and a rear laneway access, Livingroom was awarded a chef’s hat in last years Good Food Guide.
Colliers International has appointed Jeremy Gruzewski and Ben Baines to coordinate the sale.
“With approximately six years operation from this locaton, Livingroom is frequently featured among the best restaurants in metropolitan Melbourne with a large and loyal following of customers," says Gruzewski.
“This represents an exceptional passive investment opportunity with a secure tenant, with the locational benefits of being in one of Melbourne’s most desirable suburbs.”
The Livingroom currently has three years left on its lease and the property is being sold as one title.
 Baines says any future subdivision plans are subject to approval.
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Malvern's Livingroom restaurant premises listed with 5% yield potential

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Dwelling values across Australia's capital city markets rose 2.8% over the March quarter, the strongest result seen since March 2010, according to the RP Data-Rismark March Hedonic Home Value Index Results.
Values were up a strong 1.3% over March.
Every capital city recorded a rise in dwelling values over the month apart from Adelaide, which remained steady over March.
Perth recorded the highest level of growth over the month of March, with dwelling values increasing 3.4% to a median price of $479,000.
However Hobart was the best performing capital city over the quarter with an increase of 6.1% to $332,500 following a 2.5% increase over March.
It still remains the nation’s most affordable capital city market in terms of dwelling values.
Melbourne recorded a 2.5% rise in dwelling values over the quarter and a 0.8% rise over March with a median dwelling price of $475,000.
Sydney recorded a 3.4% rise over the quarter and a 1.5% rise over March and remains the most expensive capital city market, with a median dwelling price of $550,500.
The weakest property market was Adelaide, with values unchanged over March, and down 0.5% over the March quarter.
Adelaide is the only capital city to record a fall in values for the first three months of the year.
 
Year-on-year, the report shows that Darwin has experienced the greatest rise in value of 7.3%.
“The March 2013 result is one of the strongest we’ve seen over the three years since March 2010,” says Rismark International CEO Ben Skilbeck.
“Further, it was the strongest quarterly growth seen since the three month period ending May 2012,” says Skilbeck.
“Since the capital city housing market bottomed out at the end of May last year, we have seen dwelling values rise by 4.7% after falling by 7.4% from their market peak back in late 2010,” says RP Data research Director Tim Lawless.
Lawless says the most significant recoveries have been recorded across Darwin where values have risen 13.9% since bottoming out in January last year, and Perth where values are up 9.4% since November 2011.
“Both cities are recording rental growth higher than 10% year on year which is providing a significantly higher total return compared with other cities,” says Lawless.
According to the index - which factors in the gross yield as well as capital gains – Darwin is recording a year on year gross return of 13.9% and Perth is recording a total gross return of 10.6%.
“Both are significantly higher than the combined capitals average of 6.9% gross,” says Lawless.
The middle priced housing sector is continuing to show the healthiest market fundamentals.
Rismark’s Ben Skilbeck says the investor segment of the housing market is showing greater responsiveness to the low interest rate environment than the owner occupied segment.
“The gross capital city unit rental yields now at 4.9%, and a number of short term fixed rate loans also being offered at these levels, it’s not surprising to see investors responding to these conditions more quickly than owner occupiers,” says Skilbeck.
The report suggests that there are many indications that the housing market recovery will continue.
“Auction clearance rates haven’t been below 55% on any occasion so far this year, and over recent weeks the capital city weighted average clearance rate has been around the 60% mark with Melbourne and Sydney nudging the 70 mark,” says Lawless.
“RP Data’s Mortgage Index, which tracks activity across the RP Data mortgage platforms, reached levels not seen since August 2009, suggesting housing finance commitments are likely to show a decent lift when the ABS publishes the data for February and March later this year,” Lawless says.
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Capital city dwelling values record highest quarterly rise in three years: RP Data

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Around $3.5 billion of commercial property priced over $5 million changed hands over the first quarter of the year with A-REITs returning to the market, according to CBRE.
This is a 15% increase compared to the same time last year.
CBRE’s head of research for Australia, Stephen McNabb, says the data signals a healthy start to the calendar year.
Domestic investors were prominent over the quarter with the the level of domestic buying 33% higher in the first quarter  of 2013 when compared with  the March 2012 quarter.
However, foreign purchaser activity was down 31% for the quarter.
CBRE national director of capital markets Josh Cullen says the re-emergence of the domestic REIT’s seeking core investments across all property sectors was a positive sign for 2013. 
“In the past week alone we have received in excess of $4.5 billion worth of offers with the closure of sales campaigns for Raine Square in Perth and the GE Core portfolio,” says Cullen. 
“The local REIT’s are well positioned with both balance sheet and wholesale capacity to take advantage of quality offerings in the market place. Leveraging has reduced to around 26% from a peak of circa 40%, which would imply funding capacity of $6 billion if leverage moved back to a still conservative level of around 32%.”
A-REIT acquisitions are up by $1.4 billion over the year to March 27, 2013 compared to the previous year.  
A-REITs  have become net purchasers over the period.
Assuming 10% of the current $30 billion in super fund cash allocations was also directed to domestic property, CBRE estimates that some $3 billion in A-REIT and superannuation money could find its way into the property market. 
However, Cullen says one issue was the lack of quality stock openly available and this was expected to result in cap rate compression for core assets.
Around $14.3 billion in commercial sales have been reported for the 12 months to March 27,  a 1% increase compared with the $14.2 billion recorded in the year to March 2012.
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Commercial property sales up 15% in first three months of the year with A-REITS returning: CBRE

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Perth's median house price reached a record high of $510,000 in the March quarter, according to data by the Real Estate Institute of Western Australian (REIWA).
The previous peak was $505,000 in the March quarter of 2010.
This is a 2% increase on the median price from the December quarter. 
Homes selling for $600,000 to $700,000 and those between $800,000 and $1 million represented around 20% of all sales during the quarter.
“Our preliminary data for the March quarter show that while the proportion of sales under $500,000 has fallen, there was a marked increase in sales between $500,000 and $1 million,” says REIWA president David Airey.
“The $600,000 to $700,000 range was the most dominant price point above the median during this period and a healthy illustration of consumer confidence through trade-up activity,” says Airey.
The $400,000 to $450,000 price point represented 12% of all sales for the first quarter, according to the REIWA.
“Sales in this price range are turning over very quickly and the office of state revenue reports that in February the median purchase price for first home buyers was $425,000,” says Airey.
Flats, units, apartments and villas recorded a 10% rise in sales during the March quarter.
Suburbs closer to the CBD experienced stronger sales during the quarter including the suburbs of Bayswater, Belmont, Bassendean, South Perth, Victoria Park and the coastal strip in the City of Stirling.
“These areas are all over the general median price and as such contributed to the overall lift in the market median,” says Airey.
Increased sales activity was also recorded in the more traditional first homebuyer areas, including the southeast corridor in the cities of Gosnells and Armdale.
Land sales were up 10% over the quarter and the volume of land for sale remained stable.
“The March quarter results show a buoyant market returning to more normal conditions on the back of solid population growth and a strong state economy,” says Airey.
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Perth median house price rises to new peak of $510,000: REIWA

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The $70 million residential development  Imperial Doncaster is pushing creativity boundaries and integrating modern sound technologies to make clutter-free homes.
Imperial is a <a href="https://imperialdoncaster.com.au/" target="_blank">96-apartment complex</a> with one, two and three-bedroom apartments being developed by AXF Property.
Located on Sovereign Point Court, <a target="_blank" href="https://www.propertyobserver.com.au/victoria/chinese-developer-asx-property-selling-imperial-the-crown-of-doncaster/2013011058726">Imperial</a> will be 10 storeys high, built to a design by the Buchan Group of architects and positioned directly across from Westfield Doncaster.
<img alt="imperialapril2one" height="297" width="470" src="/images/stories/2013/04/imperialapril2one.jpg">
AXF will integrate each apartment with Push Controls, Sonos and Spotify technology – a first of its kind.
The music streaming system will be known as Imperial PLAY with each resident receiving a free iPad mini to use as their main music controller.
<img alt="imperialapril2two" height="290" width="470" src="/images/stories/2013/04/imperialapril2two.jpg">
Collaborating with Push Controls, the iPad mini will be used to switch off or to dim lights, listen to music, flick between a DVD or change TV channels, all in all, a universal remote.
“It’s the first time Push Controls has integrated their technology into every apartment in a project as standard, as is the case for Sonos and Spotify,” says Scott Jessop Sales and Marketing Manager of AXF Property.
Also included in each apartment will be a Sonos Playbar and a Sonos Play:3.
 
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A Sonos Playbar offers full-theatre sound through nine speakers and can wirelessly stream music as well as be connected to the television.
Sonos Play:3 is a powered speaker unit that streams music wirelessly from local sources, including an itunes library and online services such as a Spotfiy. 
The two speakers will offer the choice of a second audio zone, allowing the second zone to play different music and at a different volume to the other audio zone.
<img alt="imperialapril2three" height="288" width="470" src="/images/stories/2013/04/imperialapril2three.jpg">
Residents will also receive a free one-year subscription to Spotify - an online streaming service with access to more than 20 million songs.
Both the Sonos Playbar and the Sonos Play:3 speaker will be controlled through the iPad mini and will also be compatible with other tablets and smartphones.
“Imperial PLAY brings an unrivalled level of lifestyle technology to every apartment that makes apartment living clutter free.”
“All your entertainment devices are integrated into a central smartphone or tablet and customized to suit your lifestyle, eliminating the need for multiple remote controls,” says Jessop.
The 96 apartments will range from one, two and three-bedroom apartments and include 10 sub penthouses.
<img alt="imperialapril2four" height="231" width="470" src="/images/stories/2013/04/imperialapril2four.jpg">
One bedrooms range in size from 51 square metres to 58 internally and start from $375,000.
Two-bedroom apartments range in price from $539,000 to $644,000 and range in size from 86 square metres to 96 square metres.
Three bedroom apartments range in price from $795,000 to $853,000 and the ten penthouses range in price from $879,000 to $1,255,000.
AXF had a preview night three weeks ago and currently have 20 apartments on reserve.
Jessop says one purchaser is looking at combining two and a half apartments, while another three potential buyers are wanting to combine two apartments.
"Imperial PLAY is definitely the wow factor," says Jessop.
 
 
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Imperial Doncaster offers iPad and sound technology for apartment owners

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Rick Jamieson, the founder of party supply and events company Harry The Hirer, has listed his 60-hectare Bellarine estate, with interest from $12 million.
Jamieson is also a horse breeder and is famous for selling Black Caviar as a yearling for $210,000 after he had concerns for her front legs.
Jamieson bought the <a target="_blank" href="https://www.realestate.com.au/property-house-vic-bellarine-113218667">Spray Farm estate</a> in 2010 for $7.05 million from Scothman’s Hill Vineyard and Winery owners the Browne family.
The 1851 homestead on <a target="_blank" href="/news">Portarlington</a> Road was restored by the Browne family in 1998 and long operated as a high-end function centre, witnessing the marriage of Cathy Freeman.
Jamieson converted the historic farm and vineyard into a private residence after a multi-million-dollar refurbishment.
Spray Farm boasts seven bedrooms, six bathrooms and features high ceilings with detailed cornices, ceilings roses and timber floors.
The stables have been converted into four guest suites.
The architecturally designed gardens are greeted with a sandstone deck, which offers panoramic views over the Bellarine Penisula.
Spray Farm has been listed for private sale through Gerald Delany and Nicole Gleeson from Kay and Burton.
The agents say given Spray Farms rare commodity, it is difficult to put an exact price on the property as there really are no comparables.
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Harry the Hirer founder Rick Jamieson lists Bellarine estate

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The southeastern suburbs of Melbourne – particularly Glen Waverley and Mount Waverley – are proving to be hotspots with Chinese buyers looking to further their children’s education and invest in small businesses.
Glen Waverley, 19 kilometres southeast of Melbourne CBD, is a popular spot for Chinese buyers –  both Australian residents and offshore –  wanting to move into the Monash school zone, which boasts a vast number of primary and secondary schools.
Residents of Chinese descent account for almost a quarter of the southeastern suburb population (10,477 people of the 39,204 population according to the 2011 census).
The average house price in Glen Waverley is $720,000, and families account for 79% of households.
A spokesperson for Ray White Glen Waverley says the majority of Chinese home owners buy in Glen Waverley for education, and secondly for the shopping and transportation.
Where a child can attend school is determined by his or her primary and permanent place of residence – upon enrolling, proof of residence must be shown.
If a student lives in a school zone, a place is reserved for him or her at the schools allocated to that zone.
A student can apply for schools in other zones, but being accepted depends on the availability of places at the chosen school, with those within the zone given first preference.
Other factors such as distance, curriculum, social and family links, transport and location convenience are all considered by the school.
<a href="/news">Glen Waverley</a> also is home to further education institutions such as Homesglen TAFE, and not far away is Box Hill TAFE.
A <a href="https://www.realestate.com.au/property-house-vic-glen+waverley-113081571" target="_blank">three-bedroom, two-bathroom home</a> on Delmore Crescent (pictured below) recently sold at auction for $765,500.
<img src="/images/stories/2013/03/schoolsmarch27one.jpg" width="470" height="350" alt="schoolsmarch27one">
Situated on a 680-square-metre lot, it is within walking distance to public transport and located close to Glendal Primary, St Christopher’s Primary, Wesley College and Mount Waverley Secondary School.
It was listed by Tony Levoli from Barry Plant Monash.
 
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The neighbouring suburb <a href="/news">Mount Waverley</a> is also popular with Chinese buyers, with 5,030 residents of Chinese descent within the 32,076 population, according to the 2011 census.
The median house price in Mount Waverley is $725,500 and family households account for almost 74%.
A five-bedroom, two-bathroom home on Catherine Avenue (pictured below) sold on March 2 for $731,000.
<img alt="schoolsmarch27two" height="272" width="470" src="/images/stories/2013/03/schoolsmarch27two.jpg">
Situated on a 672-square-metre lot, the sale was closed by Buxton real estate Oakleigh.
Last year Property Observer <a target="_blank" href="https://www.propertyobserver.com.au/retail/mount-waverley-iga-with-lucky-88-dollar-bids-sells-for-%24600000-above-the-reserve/2012062855319">reported</a> on a free-standing Ritchies IGA in Mount Waverley that sold to an Asian Melbourne-based buyer for nearly $700,000 above the reserve.
The supermarket attracted more than 23 enquiries from offshore Asian buyers prior to its auction date.
Many of the bids included the number 88 – the Asian symbol of good fortune and good luck.
The supermarket had a $6.5 million reserve and eventually sold for $7.19 million.
“Locally based Asian investors generally like to buy commercial property investment with a value of up to $5 million,” says Mark Wizel from CBRE.
“Small Asian investors [who live around the eastern suburbs] tend to buy retail properties that have solid performing tenants.”
“There is little doubt that the Chinese people feel comfortable in Melbourne and have a great understanding of the way the local market works,” says Wizel.
For more on the allure of Australian property to Asian buyers, <a target="_blank" href="http://propertyobserver.com.au/ebooks/free-ebook-australias-allure-for-asian-residential-property-investment">download our free eBook. </a>The eBook is also available for<a target="_blank" href="http://propertyobserver.com.au/ebooks/australias-allure-for-asian-residential-property-investment-free-ebook"> free download in Chinese.</a>
Photo courtesy of ClarkeHopkinsClarke.
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Schools draw Chinese buyers to Melbourne’s southeast

For most new apartment buildings, the Owners Corporation starts life with little more than a bank account and the first quarterly strata levies.

At <a href="https://www.apartments.com.au/buildings/9-gay-street-castle-hill-9-gay-street-castle-hill-nsw-2154">9 Gay Street</a> in <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a>, it starts with around $7 million in reserve.

It's an unusual legacy of what was once one of Sydney's highest-profile apartment remediation projects. When the development, originally known as Skyview and built by disgraced developer Top Place, came under scrutiny by then NSW Building Commissioner David Chandler, an $11 million remediation bond was negotiated to ensure any building defects could be fully rectified.

The building underwent an 18-month remediation program, during which around $4 million of that bond was spent bringing the building up to the standard it should have been in from the outset.

After extensive inspections, all active rectification orders have been lifted. What's more, around $7.2 million remains secured for the Owners Corporation for the next 15 years.

In a twist few would have predicted, what began as a significant concern for purchasers has left the building with something almost unheard of in the apartment market: a multi-million-dollar financial reserve from day one.

[smartcode_project:default project_id=147685 project_image_fid=359136]

<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a> Executive Chairman Greg Huxley said the structure offers buyers a level of certainty that is difficult to replicate.

"The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers," Huxley said.

"Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind."

The apartments themselves have been designed with a focus on practical, contemporary living. Interiors feature Smeg appliances, stone benchtops, tiled living areas, carpeted bedrooms, 2.7-metre ceilings, floor-to-ceiling glazing, and ducted heating and cooling throughout.

Residents also have access to a range of shared amenities, including two rooftop barbecue areas, a swimming pool, children's playgrounds, secure building access, storage cages, and visitor parking.

The location continues to be one of the project's strongest drawcards. Castle Hill Metro Station sits virtually on the doorstep, providing direct connections across Sydney's expanding Metro network, while Castle Towers offers extensive retail, dining, entertainment, and service amenities within walking distance.

[smartcode_project:default project_id=147685 project_image_fid=359127]

The building, now named after its location at 9 Gay Street, comprises a diverse mix of one-, two-, and three-bedroom apartments starting from just under $600,000.

Equitifund National Sales Director Ben Hamblett said demand in the Hills District continues to be driven by buyers seeking convenience and connectivity.

"Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre," Hamblett said.

"There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living."

On top of the long-term protection afforded by the remaining $7.2 million bond, Equitifund is offering a limited-time stamp duty rebate on selected apartments.

Eligible purchasers can also secure finance options, including a 3.99 per cent two-year variable rate, loan-to-value ratios of up to 90 per cent, and interest-only lending options through EquitiCredit.

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Joel Robinson

Why this Castle Hill apartment building starts with a $7 million advantage

For much of the past few years, conversations about Australia's property market have centred on the rapid growth seen in Sydney, Brisbane, Gold Coast, and Perth. <a href="https://www.apartments.com.au/developments/melbourne-vic-3004">Melbourne</a> has followed a different trajectory.

That relative underperformance is now encouraging some buyers to reassess the city, particularly those willing to look beyond short-term market movements and focus on quality property in established locations, along with the long-term growth prospects of a city expected to overtake Sydney as Australia’s most populous.

John Bekiaris, Research &amp; Market Insights at <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a>, said Melbourne's current position is attracting increasingly sophisticated purchasers.

"Melbourne continues to present one of Australia's strongest long-term investment stories," Bekiaris says.

"While other capital cities have experienced stronger recent growth, that relative underperformance is exactly what's attracting sophisticated counter-cyclical investors."

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Equitifund isn't just commenting on Melbourne's property market, it's investing in it.

The Sydney-headquartered capital partner has taken over the remaining apartments at <a href="https://www.apartments.com.au/buildings/victoriana-melbourne-20-queens-road-melbourne-vic-3004">Victoriana</a>, the recently completed glass-encased development opposite Albert Park Lake in Melbourne's tightly held St Kilda Road precinct.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and built by <a href="https://www.apartments.com.au/builders/hickory">Hickory</a>, Victoriana places residents between one of Melbourne's most recognised parklands and the CBD, offering oversized two and three-bedroom apartments aimed at owner-occupiers seeking a genuine alternative to a traditional family home.

The development comprises 232 completed residences alongside a suite of resident amenities, including a 25-metre indoor swimming pool, gymnasium, landscaped entertaining areas, resident lounges, EV charging, secure basement parking and a concierge-style arrival experience.

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The apartments have been designed with owner-occupiers firmly in mind.&nbsp;Open-plan living and dining areas flow onto generous balconies framing views across Albert Park Lake, Fawkner Park, the Royal Botanic Gardens and the Melbourne skyline.

Kitchens feature Gaggenau appliances, stone benchtops and generous preparation space. Bedrooms include built-in robes, while bathrooms feature full-height textured tiling. Hardwood flooring and ducted air conditioning complete residences designed for long-term living.

Rothelowman's architecture takes its cues from the landscape opposite the site. Sweeping horizontal glazing references the movement of Albert Park Lake, while generous balconies and expansive glazing strengthen the connection between the apartments and the surrounding parklands. The result is a building designed to deliver the scale and amenity expected of luxury apartment living, while offering the larger floorplans increasingly sought by owner-occupiers.

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The location is one of Victoriana's defining characteristics. Positioned on Queens Road, residents are directly opposite Albert Park Lake and within easy reach of Fawkner Park, the Royal Botanic Gardens, South Melbourne, St Kilda Road and the CBD. With few comparable development opportunities remaining in the precinct, buyers are increasingly placing value on outlooks that are unlikely to be interrupted by future construction.

Greg Huxley, Founder of Equitifund, believes those qualities become even more valuable over time.

"Premium real estate has always rewarded buyers who take a long-term view," Huxley said.

"Victoriana represents the kind of asset that's increasingly difficult to recreate today, particularly in an established location like Queens Road."

He said rising construction costs are also changing the way buyers assess completed developments.

"When you combine an irreplaceable location with thoughtful architecture and premium finishes, you create something that becomes increasingly difficult to reproduce as construction costs continue to rise."

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According to National Sales Director Ben Hamblett, enquiry has been driven largely by Melbourne downsizers and buyers upgrading from smaller apartments.

"Interest in Victoriana continues to build, with strong buyer focus on the larger owner-occupier residences within the development," Hamblett says.

"Enquiry is increasingly driven by local buyers who recognise the rarity of what's on offer: park-facing apartments in an established neighbourhood where new development opportunities are becoming increasingly scarce. At Victoriana, the view is not just a feature; it's an appreciating asset in its own right."

He said interstate enquiry has also strengthened as buyers reassess Melbourne's position within the national property cycle.

"Melbourne currently stands as the most compelling entry point of any major Australian capital, and discerning buyers are beginning to recognise what those who move early always understand: the best opportunities are taken before the price rise confirms them."

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Why now is the time to buy in Melbourne's premium apartment market

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

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Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

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Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

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Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

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Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

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Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

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Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

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Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

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La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

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<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

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Nicola Trotman

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